JPMorgan Chase & Co. Lowers Clearwater Analytics (NYSE:CWAN) Price Target to $20.00

Clearwater Analytics (NYSE:CWAN) had its price objective dropped by JPMorgan Chase & Co. from $22.00 to $20.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 13.25% from the company’s current price.

A number of other equities research analysts have also weighed in on CWAN. Wells Fargo & Company dropped their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler reissued a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a report on Thursday, February 29th. Finally, DA Davidson reissued a “buy” rating and issued a $24.00 price target on shares of Clearwater Analytics in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Clearwater Analytics Price Performance

CWAN opened at $17.66 on Thursday. The business’s 50-day moving average is $17.01 and its two-hundred day moving average is $18.68. Clearwater Analytics has a 1 year low of $13.02 and a 1 year high of $21.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15. The firm has a market capitalization of $4.32 billion, a PE ratio of -220.75, a price-to-earnings-growth ratio of 6.28 and a beta of 0.50.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.26% and a negative net margin of 3.90%. The business had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s revenue was up 21.4% on a year-over-year basis. Research analysts anticipate that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the completion of the transaction, the chief financial officer now directly owns 148,711 shares in the company, valued at approximately $2,935,555.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $987,000.00. Following the transaction, the chief executive officer now owns 270,838 shares of the company’s stock, valued at approximately $5,346,342.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $197,400.00. Following the transaction, the chief financial officer now directly owns 148,711 shares in the company, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. Insiders sold a total of 16,310,000 shares of company stock worth $275,809,400 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP raised its position in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after purchasing an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. raised its position in Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after purchasing an additional 3,461,158 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Clearwater Analytics by 1.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock valued at $115,096,000 after acquiring an additional 79,880 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Clearwater Analytics by 0.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock valued at $114,746,000 after acquiring an additional 30,771 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Clearwater Analytics by 28.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after buying an additional 971,920 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Company Profile

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.